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Thinking about becoming a licensed real estate professional?A career in real estate can be very rewarding; it can also be very demanding. Make sure you know what you are getting into before making the leap. For information about how rewarding and demanding the real estate profession can be, eligibility requirements for becoming a licensed real estate professional, or the expenses you could expect to incur your first year in the business, click on the appropriate button to the left. If the real estate business is for you, let us help you launch your career at Huntsville Real Estate School. Rewarding Profession: A lot of people get into the real estate business because of the opportunity to make a lot of money. There really is no limit to how much money you can make in the real estate business. It is not uncommon for real estate professionals to make six-figure incomes. Some of the really big top producers, make over a million dollars in a year. However, there are some non-monetary rewards that go along with the job too. It's a profession where you get the opportunity to help young couples and familities purchase their dream homes, get out of an apartment and stop paying rent. And when it is all over, it makes you feel good when you drive by and see what you helped them achieve.
Demanding Profession:Real estate is a demanding profession. As you gain experience and work several real estate transactions, you will discover that you are on call seven days a week. To find out more about the real estate business, go torealestateinfo4u.blogspot.com,scroll down to TEST FOR REAL ESTATE AGENT PROFESSION, and take the test. There is no PASS or FAIL score; the test is simply designed to give you an idea of how demanding the real estate profession can be.
Eligibility Requirements:Click here www.arec.alabama.gov/licensing.aspto see the Alabama Real Estate Commission's requirements for becoming a licensed salesperson or broker in Alabama. Expenses: Several estimates of costs associated with becoming a licensed real estate professional in Alabama are provided below. These estimates should not be used as your final source for costs of becoming a realtor. Contact the Alabama Real Estate Commission, your local realtor association, real estate schools, etc. to verify and revise the information below as required. Education Expenses
- Education Expenses
- Pre-License Course: ~$300 - $400
- Alabama Real Estate License Exam: $71
- Post-License Course: ~$180 - $250
- Continuing Education (must take 15 hours every two years): ~$135 - ???. The cost of continuing education (CE) varies significantly depending upon such factors as travel to the location where the CE course is being offered, number of textbooks provided (if any), etc. That is why no estimated end cost range is provided.
- Other (Professional and Designation Courses): The cost of these courses cannot be estimated; they are highly dependent on the budgets, preferences and goals of each individual licensee.
- AREC Fees – Review current fees at the AREC website.
- Local and National Realtor Dues, Application Fees, MLS Dues, etc.: These dues and application fees are prorated, depending upon when you join the local Huntsville Area Association of Realtors (HAAR). If you join in January, all application fees, organization dues, MLS dues, etc. may be as high as a $1000 or more. Contact the HAAR at 256-536-3334 for dues and application fees associated with joining HAAR, NARIS (MLS), etc. If you are planning on joining another local association of realtors (not HAAR), contact the appropriate organization and request their dues and application fees.
- Insurance: Most real estate companies in Alabama purchase a blanket Errors & Omissions (E & O) Insurance Policy that covers all licensees who work out of the company’s office. Generally, the real estate companies prorate the cost of the insurance and require their licensees to pay their prorated share. The prorated share for each licensee is often in the $100-$200 range, but each new licensee should discuss the cost E & O insurance with each company he/she is considering for the placement of his/her license.
- Miscellaneous: The cost of lockboxes, keys/PDAs to open lockboxes when showing properties, computers, cell phones, websites (for development and per month), advertising, car and gas expenses, etc. varies significantly among licensees.
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